SPX 500

On the weekly chart we can see that spx 500 tested the bottom trendline again,now already 5 times.
IMO it's just matter of time for the execution. And the question is only when that trendline will break.
So still a bit confidence from the buyers at the moment, but again we can see a exaggerated bearish divergence.
On the daily timeframe the spx 500 hits the bottom trendline 2 times on a shortly period of time, that tells me also the power decreases.
A lot is depending what exactly the FED will do. tapering from the brrrrr, interest rates slowly going up?
Something is needed because the inflation is already at 8% (they are saying) much higher then the 2%(what was the plan) of course.
When the FED will print much more money, the inflation only is going up, they can not offer that the inflation will go up till who knows maybe 15% or more(can you imagine).
IF that bottom trendline will break, i think we're on the way to the 61.8°FIB also there is a nice trendline. IF it will happen, just know it will not happen in a straight line (couple of weeks), like the V shape in march 2020. probably we will go up on the EMA 50,100,200 but eventually will end up to the 61.8°(IMO)
But for the moment everything is overrated, a good correction is needed.
At the end it will recover itself from correction, but it will hurt for a lot of people (must lower and mid class) and that will take time